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Learning Center:
A guide to help you make the right decision!

Valuation Information

Why you should have your jewellery valued? There are a number of reasons why it could be essential for you to have your jewellery valued. It goes without saying that any jewellery you own should be adequately protected by insurance. But even if you already have insurance cover based on a valuation given to you some time ago, it would be prudent, because of the fluctuating cost of gemstones, gold and labour, to have it valued again. Otherwise if you were unlucky enough to lose your jewellery, have it stolen, or damaged, the money you receive may not be sufficient to restore the loss. These days you would be wise to have your jewels re-valued every three years.

What should your valuation contain? Apart from a statement of opinion as to the final value of a piece of jewellery, the valuation should contain a description sufficiently detailed to be able to identify the item should it be stolen or lost. Where possible for important pieces of jewellery, a photograph or computer scan can be supplied, but this is usually a matter of discussion at the time the item is left. A reliable valuation is an opinion based on knowledge gained through training and experience and is backed up by the use of technical equipment where necessary. A good valuation takes time and should be presented in a clear and professional manner. The days of hand written valuations with lines such as 'diamond ring £200.' are thankfully long gone - or at least should be!

Valuation of new jewellery. When a piece of jewellery is purchased you will probably need a replacement valuation in order to obtain insurance cover. It is better to ask the jeweller who sold you the article for a valuation for insurance purposes rather than issue a receipt to the insurance company because most jewellery insurance can be placed on a replacement basis, or an agreed value basis with your insurance company. Generally speaking, it is wise to insure your jewellery on an all risks basis rather than under the same terms as the contents of your house.

Who should value your jewellery? The obvious person to carry out the valuation is your jeweller. At Murray Forbes Jewellers we buy and sell jewellery regularly, and do numerous valuations. The valuation we make will be based on our wealth of experience, gemmological and other qualifications, technical expertise with the laboratory equipment at our disposal and the experience of the current market situation. At Murray Forbes Jewellers your jewellery is valued and insured whilst on the premises. We charge a minimum of £20.00 or 1% of the total of the goods valued. Finally, if you still have any questions you wish answered about a valuation or any questions relating to jewellery and gemstones, please don't hesitate to contact us.

Murray Forbes Jewellers, 3 Ness Walk,, Inverness IV3 5NE, Phone (01463) 233122
E-mail:info@murrayforbes.co.uk

Members of the National Association for Goldsmiths